Alibaba Group Acquires $383M Stake In Enlight Media

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Chinese e-commerce giant Alibaba Group Holding Ltd. has purchased a RMB2.4 billion (US$383 million) stake in Beijing-based television and film company Enlight Media Group, according to a securities filing.

Enlight Media has issued 99 million new shares at RMB24.22 apiece to Hangzhou Ali Venture Capital Co., a financial arm of Alibaba Group, via a private share placement deal.

China Money Network

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